Proximar strengthens its management team with the recruitment of Mr Dharma
Rajeswaran as Chief Operating Officer (COO). "Rajeswaran is one of the most
experienced executives within onshore farming of Atlantic salmon, representing
valuable insight for successful execution", says Joachim Nielsen, CEO of
Proximar.

Mr Dharma Rajeswaran has extensive operational background from the aquaculture
industry and will be joining Proximar January 1st, 2022. He has more than 30
years of experience from farming of Atlantic salmon, both from conventional
farming in Norway and from land-based farming. 

"We are very pleased to have Rajeswaran joining our team. He is one of the most
experienced people in the industry when it comes to onshore farming of Atlantic
salmon. This combined with his 30 years of experience with salmon farming makes
us further confident in a successful execution", says Joachim Nielsen, CEO of
Proximar.

Proximar initiated at 19th of March 2021 the construction of its land-based
aquaculture facility at proximity to Mount Fuji in Japan. Aqua Maof will deliver
the recirculating aquaculture system to the facility.

Extensive RAS experience

Rajeswaran has worked with recirculating aquaculture systems (RAS) for ten
years, and most recently with Atlantic Sapphire in the US.  Rajeswaran will be
based in Japan where he will continue building the operational team and prepare
for the operational start-up, which takes place in the third quarter of 2022
when the first eggs will be put into the facility.

"I am very excited to be joining the Proximar team in a couple of weeks. The
combination of the location, the people and technology have been important
aspects of my decision. Furthermore, I am truly impressed to see how the RAS
system from Aqua Maof is built up and operated, the performance is impressive",
says Mr Dharma Rajeswaran. 

From third quarter 2022, the first eggs will be introduced to Proximar's
facility, and the first harvest is expected in 1H 2024. The ongoing construction
is going according to plan, both on time and budget.

For more information:

Joachim Nielsen, Chief Executive Officer
Phone: +47 928 55 559, e-mail: jn@proximar.com 

Pål Grimsrud, Chief Financial Officer
Phone: +47 994 77 599, e-mail: pkg@proximar.com

About Proximar: 
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility under construction at the foot of Mount Fuji in Japan. The
company will supply fresh Atlantic Salmon harvested the same day through
land-based fish farming, using high-quality groundwater secured close to Mount
Fuji. Proximar's location, near one of the world's most important fish markets,
implies significant advantages in reducing cost and carbon footprint.